ADB helps VN reduce poverty, develop tourism and lessen natural calamities

Photo: VGP

The loans will be used to finance the poverty alleviation program V, sustainable tourist development in the greater Mekong Sub-region and address consequences of natural disasters occurred in 2005.

With US $25 million for poverty reduction, ADB wants to assist the Vietnamese Government to renew some specific policies in order to successfully implement the socio-economic development plan 2006-2010.

Under the project on sustainable tourist development in the greater Mekong sub-region, a loan of US $10 million will be provided to upgrade tourist infrastructure, protect and conserve natural and cultural heritages. The project will be conducted in five provinces of Cao Bằng, Bắc Kạn, Thừa Thiên-Huế, Quảng Bình and Quảng Trị.

ADB also pledged to give US $25.5 million to localities seriously damaged by the flood in 2005. The money is mainly poured into restoring essential infrastructure works and building an anti-flood system.

Việt Nam will also recive a non-refundable aid of US $500,000 from the ADB-manipulated e-Asia and Knowledge Partnership Fund in the Republic of Korea to improve the capacity of coping with natural disasters.

By Hoàng Hạnh